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Government open data and corporate risk-taking: Evidence from China

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  • Cui, Shujin
  • Wang, Chujie
  • Qin, Ye
  • He, Zhuohuan

Abstract

In the digital economy era, government data openness plays a pivotal role in enhancing information transparency and reshaping firms’ strategic behavior. Using the staggered establishment of municipal open-data platforms in China as a quasi-natural experiment, this paper investigates the causal impact of government data openness on corporate risk-taking behavior. Based on a panel dataset of Chinese A-share listed firms from 2008 to 2022 and employing a staggered difference-in-differences (DID) model, we find that government data openness significantly increases firms’ risk-taking levels. And this result holds after a series of robustness and endogeneity tests. Mechanism tests reveal that open data promotes risk-taking by transforming management style and optimizing the business environment. The characteristics of data open platforms also differ from the open data themes. This study highlights the crucial role of data openness in fostering corporate dynamism and provides novel evidence on the economic consequences of digital governance.

Suggested Citation

  • Cui, Shujin & Wang, Chujie & Qin, Ye & He, Zhuohuan, 2026. "Government open data and corporate risk-taking: Evidence from China," Finance Research Letters, Elsevier, vol. 99(C).
    • Handle: RePEc:eee:finlet:v:99:y:2026:i:c:s1544612326004447
    DOI: 10.1016/j.frl.2026.109915
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